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Dado Ruvic - 1 Komercni Banka - 1 MONETA - 1 Banks - 1 Jason Hovet - 1 Jan Lopatka - 1 Andrew Cawthorne - 1
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☆ Czech banks hit as central bank ceases paying interest on reserves
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +3 min
The Czech National Bank (CNB) decided on Thursday to cancel paying interest on banks' mandatory minimum reserves from Oct. 5, a move to reduce the costs of implementing monetary policy. The decision follows a similar move by the European Central Bank in July. Komercni Banka said its stipulated amount of required minimum reserves for the current maintenance period stood at approximately 19.6 billion Czech crowns ($861.12 million). Banks have been required to keep a portion of liabilities at the central bank as reserves. Mandatory minimum reserves are not used as a monetary policy instrument but can act as a liquidity buffer to ensure the smooth flow of interbank payments, the central bank said.
Persons: Dado Ruvic, Komercni Banka, MONETA, Banks, Jason Hovet, Jan Lopatka, Andrew Cawthorne Organizations: REUTERS, Rights, Money Bank, Prague Stock Exchange, Czech National Bank, European Central Bank, Analysts, Komercni, KB, Thomson Locations: Komercni Banka, Komercni, BKOM.PR, Czech, Prague
☆ Analysis: Central Europe's path to lower inflation strewn with hazards
  + stars: | 2023-01-10 | by ( Luiza Ilie Gergely Szakacs | Luiza Ilie | Gergely Szakacs | ) www.reuters.com   time to read: +6 min
The Romanian central bank said slower economic growth and cheaper energy would help bring inflation down to single digits this year from over 16% now, earlier than previously forecast. "So the main question is when inflation in the region will fall enough that central banks will be willing to start normalising monetary conditions." Inflation is still expected to rise in early 2023 in some central European countries, based on central bank forecasts, before returning to single-digit territory by year-end. "This will help to improve external positions and lower inflation pressures in Central and Eastern Europe." "Given the dovish bias around the growth-inflation trade-off at Poland's central bank, we think the risk of premature policy easing is greatest there."
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